Research on marketing strategy of fashion shopping platform Farfetch in Chinese market

Abstract

As disclosed by various business reports, Farfetch’s strengths in gaining market share and consumer insights have yielded great revenues and Gross Merchandise Volume in the Chinese market. This study has discussed the significance of Farfetch’s marketing strategies and business strategies and how those strategies fit into the current Chinese market by analysing a combination of business reports, interview scripts, and news. The study’s significance lies in its ability to provide insight into how premium luxury brands and Western e-commerce platforms may win the Chinese market. With evaluations of the current market environment and Chinese consumers’ needs, this study has examined the reasons behind Farfetch’s success. The study suggests that Farfetch’s consumer-centric strategies could be employed by other brands to build awareness and to build a loyal customer base. Beyond that, the company’s business-to-business strategies and their alliance with Alibaba and Richemont have a significant impact on both Farfetch and luxury brands.